Nashville Electric Service 457 Retirement Plan

Nashville Electric Service 457 Retirement Plan is a public pension fund based in Nashville, Tennessee. The plan is a deferred compensation plan created by Nashville Electric Service in accordance with Internal Revenue Code ("IRC") Section 457. The 457 Plan, which is available to all full-time employees, permits employees to defer a portion of their salary until future years. The 457 plan provides that assets or income of the 457 Plan shall be used for the exclusive purpose of providing benefits for participants and their beneficiaries or defraying reasonable expenses of administration of the 457 Plan. The assets of the pension fund are managed by the board members of the the Electric Power Board. The board is comprised of five members who are appointed by the Mayor and confirmed by the Metro Council.